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Category: Cobalt

World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD 1 Cobalt Mining in DRC 

World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD

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The general trend in the prices of mining products exported from the Democratic Republic of Congo (DRC) on the international market is upward during the week from April 4 to 9, 2022. This is what the experts of the National Commission of Mercurial Prices of the Ministry of Foreign Trade have informed, who assess the evolution of the prices of mining and agricultural products exported from the DRC. In a very good dynamic for several months already, cobalt should record a price increase on the international market this week. This product… Read More Here
World: slightly up, a tonne of cobalt is trading at 81,840 USD as of March 31, 2022 2 Cobalt Mining in DRC 

World: slightly up, a tonne of cobalt is trading at 81,840 USD as of March 31, 2022

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As of March 31, 2022, a tonne of cobalt recorded a slight price increase on the international market. According to the London Metal Exchange (LME), which is the global industrial center for metals trading, a tonne of cobalt is trading at 81,840.00 US dollars at the end of March 2022 against 81,690.00 USD last week.Thus, cobalt recorded a positive price gap of around USD 150 during this period. In the Democratic Republic of Congo (DRC), projections by experts from the National Commission on Mercurial Prices of the Ministry of Foreign… Read More Here
DRC: Gécamines has suspended its legal action against China Molybdenum 3 Copper Cobalt Mining Companies Mining in DRC 

DRC: Gécamines has suspended its legal action against China Molybdenum

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Congolese state mining company Gécamines has suspended its legal action against China Molybdenum, which was stripped of control of its giant Tenke Fungurume copper and cobalt mine in the country last month, as authorities seek a solution to a dispute between the companies. The Congolese government announced in August that it had formed a commission to re-evaluate the mine’s reserves and resources in order to “fairly claim (its) rights”. Several Gécamines officials have been named to the commission as the DRC claims it owes it billions of dollars. In February, a… Read More Here
China Molybdenum Hails Progress in African Mine Dispute 4 Copper Cobalt Mining in DRC 

China Molybdenum Hails Progress in African Mine Dispute

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China Molybdenum said “significant progress” had been made on a dispute over the Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo (DRC). The dispute between China Moly and the Central African nation’s state mining company Gecamines started in August last year when the government formed a commission to reassess reserves and resources at the mine to “fairly lay claims to their rights”. China Moly holds an 80% stake in the mine, while Gecamines holds the remainder. A spokesman for the Congo government, Patrick Muyaya Katembwe, said… Read More Here
China Moly wants third party to resolve Congo mine dispute 5 Copper Cobalt Mining Companies Mining in DRC 

China Moly wants third party to resolve Congo mine dispute

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China Molybdenum Co. endorsed the involvement of an independent third-party to resolve its dispute with Democratic Republic of Congo over new royalty payments for its massive Tenke copper and cobalt mine, according to a statement posted on the company’s website Wednesday. Congo announced Tuesday that state-owned miner Gecamines would suspend its court case against China Moly’s Tenke Fungurume Mining SA while the two sides try to negotiate a deal. Last month, a Congolese court appointed a temporary administrator to run the mine after Gecamines accused China Moly of refusing to share technical information about… Read More Here
Congo halts court case against China Moly’s Tenke mine 6 Cobalt Copper Mining in DRC 

Congo halts court case against China Moly’s Tenke mine

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Congo’s state miner Gecamines has halted its court case against China Molybdenum, which last month was stripped of control of its giant copper and cobalt Tenke Fungurume mine in the country, as officials seeks a solution to a dispute between the companies. The Congolese government announced in August it had formed a commission to reassess the reserves and resources at the mine to “fairly lay claim to (its) rights”. Several Gecamines officials were appointed to the commission as the DRC claims it is owed billions of dollars. In February, a local court named… Read More Here
Market: copper still up at USD 10,247 per tonne, cobalt down at USD 81,619 per tonne 7 Cobalt Copper Gold Mining in DRC 

Market: copper still up at USD 10,247 per tonne, cobalt down at USD 81,619 per tonne

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The general trend in commodity prices on the international market is between rise and fall for the main mining export products of the Democratic Republic of Congo, informs the National Mercurial Commission of the Ministry of Foreign Trade. Copper remains up this week at 10,247 USD per tonne against 10,017 USD per tonne last week, a positive price difference of 229.7 USD. Zinc is also up this week at 3,902 USD per tonne against 3,833 USD per tonne last week, giving a positive price difference of 69.2 USD. The other… Read More Here
World: in 2020, four mines located in the DRC produced nearly 41% of the world's cobalt 8 Cobalt Mining in DRC 

World: in 2020, four mines located in the DRC produced nearly 41% of the world’s cobalt

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Four mining companies based in the Democratic Republic of Congo produced nearly 41% of the cobalt stock produced worldwide, according to a report by the NGO Natural Resource Governance Institute (NRGI). These companies include Kamoto, Tenke Fungurume, Metalkol RTR and Etoile operating in a market that concerns relatively few countries and companies. According to this report, this concentration entails significant geopolitical and investment risks for the Governments of the countries consuming and producing cobalt, as well as for companies in the supply chain. To date, the cobalt market is dominated… Read More Here
DRC: a third of the country's mining product exports in 2019 consisted of cobalt 9 Mining in DRC Cobalt 

DRC: a third of the country’s mining product exports in 2019 consisted of cobalt

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Increasingly sought after on the international market, cobalt is essential in the Democratic Republic of Congo as an essential element for financing the economic development of the country. According to a report published by the NGO Natural Resource Governance Institute (NRGI), the price increase meant that in 2019, in terms of value, a third of the exports of the Democratic Republic of Congo (DRC) consisted of cobalt. . To this end, the DRC government has declared cobalt to be a “strategic mineral substance” and has increased royalties on cobalt in… Read More Here
World: from zero in 2010 to 2.3 million electric vehicles in 2020, the EV market needs more cobalt 10 Battery Metals Cobalt 

World: from zero in 2010 to 2.3 million electric vehicles in 2020, the EV market needs more cobalt

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The increasingly desired energy transition is an opportunity for several countries that produce cobalt, which is becoming an essential material in the manufacture of electric vehicles. Manufacturers of electric vehicle (EV) batteries (a market that has grown from virtually nothing in 2010 to producing 2.3 millionvehicles in 2020, or 3.2% of the global vehicle market) need this metal . EV sales, and therefore cobalt demand, are likely to increase significantly in the international market. According to the relatively pessimistic forecast of Bloomberg New Energy Finance (BloombergNEF), by 2025, EVs will… Read More Here

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